USDA released two key reports on the cattle market today, the Cattle on Feed report and the July Cattle Inventory report. The Cattle Inventory report was suspended last year, so this is the first mid-year look at the cattle herd since 2023. The nation’s cattle herd, as of 1 July, is 94.2 million head, a little above pre-report expectations but still 1 percent below 1 July 2023. In line with expectations, the number of bulls 500 pounds and heavier were unchanged at 1.9 million head. Every other category, however, dropped.
Beef cows at 28.7 million head are down 1 percent from 2023 Beef replacement heifers at 3.7 million head are down 3 percent from 2023 Steers 500 pounds and over are 13.8 million head, do...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
